Johnson & Johnson (NYSE:JNJ - Get Free Report)'s share price dropped 1.1% on Thursday . The company traded as low as $150.71 and last traded at $150.77. Approximately 8,323,506 shares traded hands during trading, an increase of 4% from the average daily volume of 7,967,133 shares. The stock had previously closed at $152.38.
Analyst Upgrades and Downgrades
JNJ has been the topic of several analyst reports. Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Finally, Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $170.88.
Check Out Our Latest Stock Analysis on JNJ
Johnson & Johnson Trading Down 0.6%
The company has a market capitalization of $360.44 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.27 and a beta of 0.42. The firm has a 50-day moving average price of $154.07 and a 200-day moving average price of $153.65. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.
Johnson & Johnson Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.47%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's payout ratio is presently 57.84%.
Hedge Funds Weigh In On Johnson & Johnson
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Johnson & Johnson by 0.5% in the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock worth $38,800,371,000 after buying an additional 1,170,120 shares during the period. Geode Capital Management LLC boosted its position in shares of Johnson & Johnson by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after buying an additional 1,561,036 shares during the period. Northern Trust Corp boosted its position in shares of Johnson & Johnson by 0.4% in the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock worth $5,131,723,000 after buying an additional 130,645 shares during the period. Norges Bank acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $4,390,037,000. Finally, Wellington Management Group LLP boosted its position in shares of Johnson & Johnson by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock worth $3,522,447,000 after buying an additional 431,205 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.
About Johnson & Johnson
(
Get Free Report)
Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.
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